Description of business:
The acquisition of Enables IT Limited by Nexus Management plc will result in a reverse takeover under the AIM Rules. On completion of the acquisition and prior to admission to AIM, Nexus Management will, subject to shareholder approval, change its name to Enables IT Group plc.
The main country of operation of enlarged group will be the UK but will also operate in the US.
Nexus Management, previously named PC Medics Group Plc, is an AIM IT managed services provider specialising in reducing the cost and complexity of IT for companies. Nexus Management operates in two key markets: Europe and the US, where it can offer 24 hour customer support. Nexus Management provides remote sensor management, wide area network management, disaster recovery, data storage, and help-desk and desktop support. Nexus Management is registered in England and Wales and was admitted to trading on AIM on 8 May 2001 (as PC Medics Group Plc).
Enables IT provides network and IT solutions and is led by current Managing Director Michael Walliss, who joined the company in 1992 and was appointed as Managing Director in 1996. Enables IT provides technical solutions to business problems and offers on-going support services. Enables IT partners with industry vendors and provides its customers with solutions that are tailored to their needs, with no vendor tie-in.
Enables IT's customers are focused in the health, education and corporate sectors across the United Kingdom. Enables IT conducts thorough audits prior to commencing work in order to clearly understand its customers' existing IT infrastructure and limitations. Enables IT staff communicate with clients to determine specific needs and use the audit findings, and the consultants own experience and expertise, to design infrastructures based on the benefits the clients require. Implementation is undertaken in partnership with the client to ensure there is a complete understanding of the solution and technology at all times by all parties.
Enables IT looks to develop new client relationships whilst also focusing on its current client portfolio which contains customers with whom the company has had over 12 years of continuous engagement.
Enables IT offers a complete end-to-end service in the following key areas:
• Virtualisation and Cloud;
• Wireless & Networks; and
• Managed Support.
The Directors believe that Nexus Management's existing foothold in the US markets will offer an ideal opportunity for Enables IT to cross sell into this substantial and lucrative market. In addition, the Directors believe that the enlarged group will benefit from a substantial increase in the critical mass of the UK business which, with the broader client base, will de-risk the US focus of the business and will offer further cross selling opportunities. The added strength to the management team following completion of the transaction should allow for increased leverage of the business through both organic and acquisitive growth.
Nexus Management plc, to be renamed Enables IT Group plc (the